1040 8th St · Petersburg, VA 23803

$225,000

3 bd · 1.0 ba · 1,500 sqft · SingleFamily public records · 3 Days on market

Built 1957 0.40 ac lot Est $237k · 5% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.3/30.0
• ARV discount +9.8/15.0
• Appreciation +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.1/5.0
• DSCR +3.0/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks MLS

Seller says sell! This house needs some work but can be a good a good rental property! The seller is very motivated and will look at an offer!

Key facts

• Renovated cape cod
• Charming sunroom
• Spacious kitchen

Tags

• RENOVATED CAPE COD
• FULL COUNTRY FRONT PORCH
• SPACIOUS KITCHEN
• CHARMING SUNROOM
• REAR DECK
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Driveway (unpaved)
• Utilities: Public water
• Home design: 2-story home; Resale condition
• Construction: Frame construction with drywall and shingle siding; Shingle roof; Above-grade finished living area
• Exterior features: Front porch; Deck; Unpaved driveway

Interior

• Kitchen: Dishwasher; Electric range / cooking
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile; Partially carpeted
• Bathrooms: 2 full bathrooms (one on the first level, one on the second level) — each with tub and shower
• Heating & cooling: Electric heat pump for heating and cooling; Has heating and cooling
• Interior features: Bedroom on main level; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (26.2% below list).
• Recommended offer: $166k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.5% in Petersburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 290 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.4% local appreciation)).
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 37 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $225k implies a 1025% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 42% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,998 (26.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.34%
• DSCR: 0.90
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $237,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
958 Old Wythe St	0.18mi	3/2.0	1,530 (+2%)	7mo	$283,000	$185	78
1048 Amelia St	0.32mi	3/1.5	1,384 (-8%)	9mo	$140,000	$101	63
528 Windham St	0.57mi	3/1.0	1,404 (-6%)	3mo	$110,000	$78	60
151 Terrace Ave	0.56mi	2/1.5 (-1)	1,472 (-2%)	10mo	$65,000	$44	55
449 Roundtop Ave	0.48mi	3/2.0	1,363 (-9%)	7mo	$205,000	$150	53
722 Cameron St	0.33mi	3/2.0	1,275 (-15%)	5mo	$88,950	$70	52
230 Terrace Ave	0.59mi	4/3.0 (+1)	1,536 (+2%)	5mo	$278,000	$181	52
24 N Old Church St	0.46mi	3/2.5	1,344 (-10%)	4mo	$274,000	$204	51
134 Clayton St	0.53mi	4/3.0 (+1)	1,600 (+7%)	6mo	$305,000	$191	46
457 Roundtop Ave	0.48mi	4/2.0 (+1)	1,296 (-14%)	5mo	$250,000	$193	42
124 S Little Church St	0.48mi	4/3.0 (+1)	1,356 (-10%)	9mo	$99,000	$73	41
25 N Foley St	0.44mi	2/2.0 (-1)	1,295 (-14%)	10mo	$205,000	$158	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.45% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.10×
• Total profit: $6,283
• Equity at exit: $82,111

10-year hold

• IRR: 7.7%
• Equity multiple: 2.04×
• Total profit: $65,326
• Equity at exit: $113,341

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23803

• Home prices YoY: 0.3%
• Rents YoY: 5.9%
• Active inventory: 290
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,660 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$161 /mo · $1,927/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-123

Break-even live

Break-even rent $1,815

Max offer price $203,300

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
462 Reservoir Hts Petersburg, VA	4.0	2.0	1640	$1,895	$1.16	24d	1	0.65mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	44d	1	0.89mi
212 E Wythe St Unit 1 Petersburg, VA	4.0	1.5	1400	$1,295	$0.93	24d	1	0.89mi
250 E Bank St Petersburg, VA	2.0	1.0–2.0	862	$1,509	$1.75	2d	19	0.90mi
331 Glenwood Ct Petersburg, VA	4.0	1.0	1242	$1,800	$1.45	3d	1	0.96mi
531 N Azalea Rd Petersburg, VA	3.0	2.0	1600	$1,595	$1.00	24d	1	1.06mi
30 Franklin St Petersburg, VA	2.0	1.0–2.0	755	$1,550	$2.05	19d	1	1.06mi
147 Witten St Petersburg, VA	3.0	1.0	1170	$1,495	$1.28	10d	1	1.08mi
211 Jefferson Ave Colonial Heights, VA	4.0	2.0	1507	$1,900	$1.26	2d	1	1.34mi
335 Claremont St Petersburg, VA	4.0	2.0	2157	$2,500	$1.16	12d	1	1.43mi

Listing history 3 events

1. 2026-06-13
   statusdays on market $225,000 Pending 3 DOM
2. 2026-06-10
   remarks 699-char remark
3. 2026-06-10
   listed $225,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $1,927 · $161/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 42% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,920
• − Mortgage interest: −$12,603
• − Property taxes: −$1,927
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$6,545
• Taxable loss: −$5,468
• Est. tax savings @ 24.0%: +$1,312
• After-tax cash flow: $-162/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A Health & safety B- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Chesterfield County · 406,988 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 42,012
• Household income: $57,813
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 2485.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 58% White 31% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 480.5365
• Rent YoY: ▲ 5.89%
• Metro: Richmond, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+221.7% since first listed

76 events — show timeline

• 2026-06-08 Listed $225,000 CVRMLS
• 2016-10-28 Sold (MLS) $20,000 CVRMLS
• 2016-08-31 Pending — CVRMLS
• 2016-07-21 Listed $30,000 CVRMLS
• 2016-06-30 Listing Removed — CVRMLS
• 2016-01-09 Listed $40,000 CVRMLS
• 2015-12-31 Listing Removed — CVRMLS
• 2015-11-10 Price Changed $40,000 CVRMLS
• 2015-07-02 Listed $55,000 CVRMLS
• 2015-05-30 Listing Removed — CVRMLS
• 2015-01-28 Price Changed $60,000 CVRMLS
• 2014-10-22 Listed $70,000 CVRMLS
• 2010-04-29 Listing Removed — CVRMLS
• 2010-04-29 Listing Removed — CVRMLS
• 2009-12-02 Listed $104,950 CVRMLS
• 2009-12-02 Listed $104,950 CVRMLS
• 2009-12-01 Listing Removed — CVRMLS
• 2009-12-01 Listing Removed — CVRMLS
• 2009-12-01 Listing Removed — CVRMLS
• 2009-12-01 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-01 Listed $104,950 CVRMLS
• 2009-09-01 Listed $104,950 CVRMLS
• 2009-08-08 Listed $115,000 CVRMLS
• 2009-08-08 Listed $115,000 CVRMLS
• 2009-08-02 Listing Removed — CVRMLS
• 2009-04-14 Listed $120,000 CVRMLS
• 2009-04-14 Listed $120,000 CVRMLS
• 2007-08-29 Listing Removed — CVRMLS
• 2007-08-29 Listing Removed — CVRMLS
• 2007-04-11 Listing Removed — CVRMLS
• 2007-04-11 Listing Removed — CVRMLS
• 2007-04-09 Listed $114,000 CVRMLS
• 2007-04-09 Listed $114,000 CVRMLS
• 2007-01-08 Listed $130,000 CVRMLS
• 2007-01-08 Listed $130,000 CVRMLS
• 2007-01-01 Listing Removed — CVRMLS
• 2006-10-11 Listed $135,000 CVRMLS
• 2006-10-11 Listed $135,000 CVRMLS
• 2006-07-14 Sold (MLS) $50,000 CVRMLS
• 2006-07-14 Sold (MLS) $50,000 CVRMLS
• 2006-05-26 Listed $58,000 CVRMLS
• 2006-05-26 Listed $58,000 CVRMLS
• 2006-03-29 Sold (MLS) $33,000 CVRMLS
• 2006-03-29 Sold (MLS) $33,000 CVRMLS
• 2005-11-30 Listing Removed — CVRMLS
• 2005-11-30 Listing Removed — CVRMLS
• 2005-11-29 Listed $35,000 CVRMLS
• 2005-11-29 Listed $35,000 CVRMLS
• 2005-10-19 Listing Removed — CVRMLS
• 2005-10-17 Listed $42,000 CVRMLS
• 2005-10-17 Listed $42,000 CVRMLS
• 2005-08-08 Listed $42,000 CVRMLS
• 2005-08-08 Listed $42,000 CVRMLS
• 2005-07-19 Listing Removed — CVRMLS
• 2005-02-16 Listed $42,000 CVRMLS
• 2005-02-16 Listed $42,000 CVRMLS
• 2005-02-15 Listing Removed — CVRMLS
• 2005-02-14 Listing Removed — CVRMLS
• 2004-09-15 Listed $46,900 CVRMLS
• 2004-09-15 Listed $46,900 CVRMLS
• 2004-08-09 Listing Removed — CVRMLS
• 2004-05-18 Listed $59,950 CVRMLS
• 2004-05-18 Listed $59,950 CVRMLS
• 2004-05-01 Listing Removed — CVRMLS
• 2004-01-13 Listed $58,950 CVRMLS
• 2004-01-13 Listed $58,950 CVRMLS
• 2003-12-30 Listing Removed — CVRMLS
• 2003-06-19 Listing Removed — CVRMLS
• 2003-06-17 Listed $69,950 CVRMLS
• 2003-06-17 Listed $69,950 CVRMLS

Property tax history

+3.2%/yr

Latest (2025): $1,927 · +76.4% YoY. Source: county tax records.